Overview

The Middle East and North Africa (MENA) as a region accounts for around 40% of the world's proven gas reserves, yet only 10% of global supplies of gas are covered by MENA gas production. The potential for future expansion of the gas market in the both on the supply and demand side is significant since gas in many MENA states has become a cheap source of fuel for domestic industrialisation, a source of revenue for transit states, and a highly valued export commodity to multiple destinations in Asia and Europe. 50% of the world's liquefaction facilities under construction or planned for expansion will take place in MENA, which is likely to consolidate the region's role in the LNG market, allowing MENA producers to play the role of swing producers taking advantage of their location to supply both Atlantic and Pacific markets. This book, the first of its kind, will provide an in-depth study of the MENA states' individual gas markets, addressing the following questions: What are the policies of MENA governments regarding the development of their gas reserves? What are the main drivers of these policies? Will developments in the gas sector affect the ability of MENA governments to achieve the ultimate goal of economic diversification through developing energy intensive industries? Is the policy of promoting energy intensive industries viable in the long term? What role do foreign companies play in the development of domestic gas markets, export pipelines, and LNG export projects? Can current levels of domestic gas prices be maintained in an environment of rapid increases in gas demand and rising development costs?

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9780199593019

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Bassam Fattouh is a Professor in Finance and Management of the Middle East at the School of Oriental and African Studies (SOAS), University of London; Senior Research Fellow and Director of the Oil Programme at the Oxford Institute for Energy Studies; and Research Fellow of St. Antony's College, University of Oxford. Jonathan Stern is Director of Gas Research at the Oxford Institute for Energy Studies; Honorary Professor at the Centre for Energy, Petroleum & Mineral Law & Policy, University of Dundee; and Visiting Professor at Imperial College's Centre for Environmental Policy. He is author and editor of many books on natural gas issues, including The Future of Russian Gas and Gazprom (2005) and Natural Gas in Asia (2008).

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